After a long time research and investigation, we are very happy to announce the partnership between X8 AG and The Sterling Gent Group, which is an extremely important step for X8 and its token holders.
This first partnership of this kind established by the project will play a great role in delivering into production the revolutionary idea of X8currency to back a stable coin with FIAT reserves diversified in 8 world’s biggest currencies.
STERLING GENT GROUP OF COMPANIES
On 25th April 2019 the agreement was executed between the X8 AG and the Sterling Gent Advisors with the purpose to connect the two businesses in the area of financial services. Both companies see this cooperation as one of the best ways to mutually develop the business and grow in the capital markets in the long term.
The cooperation between the X8 AG and the people at Sterling Gent has been brewing for a while. It became very clear from the early beginnings that coming together meant also combining some of the top skills in the financial sector, underpinned by decades of experience on each side.
Sterling Gent itself is active in brokerage and its management team have experience in the asset management sector. Expertise brought into the partnership is also very important for the development of synergies between the two partners. With the capabilities of our partner to connect our system to the market on the execution side and on the business development side, the project extends its reach for all of the products it developed.
ACCOUNTS IN 8 CURRENCIES
The largest contribution from Sterling Gent is providing currency trading facilities and opening of the accounts for X8 AG in 8 different FIAT currencies. With this step the X8 project establishes the infrastructure that supports the operating backbone of the whole project.
The achievement enables the said diversification of reserves to be placed into USD, EUR, JPY, GBP, AUD, CAD, CHF and NZD currencies and to remain stable through independency from fluctuations of any of the individual currencies. Especially in the digital market this achievement remains globally unmatched and places the X8currency product at the top of the stable digital product segment.
Sterling Gent at the same time brings to the table the speed and high-quality execution of trading for all of the currencies and opens FIX Protocol connectivity to the project’s Automatic Reserve Management AI, which will be able to use this setup and deliver optimal value preservation effect for the X8 line of products.
ASSET MANAGEMENT AND FITNECH
The appetite of the investors for returns in the capital markets is another big business area in which our partnership will address the investors’ demand. Despite many asset management products in the market, serious people are still looking for a combination of high quality and stable returns with contained downside risk. Despite many choices such high quality offerings are much more difficult to find.
In the partnership Sterling Gent adds an enormous value with its experience and existing market presence, while X8 AG contributes with the specialized fintech capability focused precisely on addressing the requirements of this segment. Together the partnership creates an efficient match and opens up new possibilities for many competitive solutions aimed at attracting professional investors for asset management.
IONECTAR TRADING PLATFORM
As the developer of the ioNectar professional portfolio risk management trading platform, X8 AG will implement the connectivity to Sterling Gent’s execution system for the user to be able to enjoy all the benefits that SGT is delivering also through ioNectar. This will extend the reach of ioNectar and open up further possibilities for trading functionality on the system.
People will be able to obtain an end-to-end service and trade on highly competitive market spreads in the FX market which will also include packages for manual, semi-automatic, automatic and algorithm trading. The partnership is looking forward to further future developments in this area and maximize the utilization of the technologies on both sides.
The X8 project makes a big step forward in its development and moves to another level with accounts in 8 FIAT currencies secured. A joint Press Release about the partnership is scheduled to be circulated and published through various channels in the coming days.